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Do I need to Register for income Tax as a freelancer although I have fulltime job?

  • 10-06-2010 11:14am
    #1
    Niamh.W
    Closed Accounts Posts: 7 ✭


    Hello there,

    I have a fulltime job and in my pay slip it states that I am paying PAYE.

    I also have a little eBay business going on on the side (€50-€100/month income) on a freelance business, for which I registered a business name and now want to sign up for a VAT number. I need a Vat number because it's the only way to become a reseller with certain companies.

    I'm filling out the TR1 form and there on page 3, Part B, Number 23 and 24 it says:
    Registration for Income Tax (non-PAYE)
    If you are registering for Income Tax tick box and indicate your main source of income below.

    Do I need to register for that as well? Or not?


Comments

  • #2
    dbran
    Registered Users, Registered Users 2 Posts: 2,094 ✭✭✭dbran


    Hi

    If your total income from the business is insignificant. (I think the figure is deemed to be about 3k per annum or less) then you do not need to register for income tax and you will not be subject to self assessment. You arrange to have the additional income collected via the PAYE system.

    You will need to complete a form 12 every year and return the exact amount of your income to revenue.

    Hope this helps

    dbran


  • #3
    Devia
    Registered Users, Registered Users 2 Posts: 712 ✭✭✭Devia


    Similar situation myself. I'm a fairly casual non-business ebay seller making less than 100euro a month. Do I have any tax obligations regarding this money? I am employed full time and pay tax on that income.


  • #4
    mathepac
    Banned (with Prison Access) Posts: 4,991 ✭✭✭mathepac


    Devia wrote: »
    ... Do I have any tax obligations regarding this money? I am employed full time and pay tax on that income.
    You are legally obliged to declare it as income on your annual form 12 as pointed out above. At the level of earnings you mention (approx. 1,200 pa) do NOT register for self-assessment.


  • #5
    barneystinson
    Registered Users, Registered Users 2 Posts: 4,685 ✭✭✭barneystinson


    I don't think Revenue will allow a trader to register for VAT without being registered for IT/CT though...?

    I know on the TR1 it says tick here if you are also registering for income tax, but it's only worded that way to allow for cases where the trader had already registered for self-assessment and is subsequently registering for VAT / PREM / RCT.


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